Business Intelligence Developer Ii Income Eastern West Prohibit – Foodservice Market Report Overview In 2021, the size of the global foodservice market is estimated at USD 756.2 billion. The COVID-19 pandemic has caused a global slowdown, resulting in a sharp decline in the foodservice (FS) industry in 2020. However, with the abatement of the pandemic, the industry recovered in 2021 and is expected to register a CAGR of over 8% during the forecast period. Travel, accommodation and leisure channels, disrupted during the pandemic, will increase significantly over the forecast period and rebound across all regions. This increase will be due to the revival of tourism, which has stalled due to restrictions on the movement of people and international travel during the pandemic. Global Foodservice Market Overview, 2021-2026 (USD Billion) Download a free sample report to learn more about the global foodservice market forecast The global foodservice market research report provides the most up-to-date view of foodservice markets worldwide. . This report describes market trends affecting the food industry and what implications they may have for the future. Additionally, it examines the evolution of the market amidst COVID-19 by analyzing the industry’s global and regional performance as well as performance by channel. Market size (2021) $756.2 billion CAGR >8% Forecast period 2021-2026 Key regions Africa, Asia, Australia, Eastern Europe, Latin America, Middle East & North Africa, North America & Western Europe Key channels Accommodation, Leisure, Mobile Operators , Pubs, Clubs & Bars, Restaurants, Retail, Travel & Workplace Inquire & Decide Discover the perfect solution for your business needs. Ask now and let us help you make an informed decision before you buy. Foodservice Market Segmentation by Regions The major regions in the global foodservice market are Africa, Asia, Australia, Eastern Europe, Latin America, Middle East & North Africa, North America, and Western Europe. Africa: Foodservice sales in South Africa are expected to grow in 2023 as the country continues to recover from the pandemic. Restaurants account for the largest share of total food service value, followed by the pub, club and bar channels. Quick service restaurant and fast food (QSR) is the largest channel among restaurants in South Africa. Fast store sales and investments from foreign brands will drive the growth of the channel. Asia: The Asian food industry will continue to grow in 2023. The revival of tourism in Thailand will be a major contributor to this growth. China, the largest market, will grow in 2023. Diverse menu options, along with innovative localized offerings, will help restaurant operators grow. Asia’s second-largest foodservice market, Japan, will also grow in the coming years as the country eases COVID-19 restrictions on bars and restaurants across the country in March 2022. Australia: As the Australian economy recovers from the pandemic, consumer visits to food service outlets will increase. Significant investments by leading players will drive the growth of the QSR channel. In June 2021, McDonald’s Australia announced plans to invest heavily in the country and open 100 new stores across the country by 2024. The company plans to focus on drive-thrus, digital capabilities and deliveries. Eastern Europe: The food service sector is forecast to see record growth in 2023 across all Eastern European countries. Restaurants dominate in Turkey, which is the leading market. Among restaurants, full-service restaurants have the largest share. Other key foodservice markets in the region include Poland, the Czech Republic and Russia. The ongoing war between Ukraine and Russia will disrupt the economies of both nations and hinder industrial development in these countries for years to come. Latin America: All major Latin American countries will register growth in the food industry in 2023 as they recover from the negative impact of the pandemic. Mexico and Brazil will hold the highest market shares in the Latin American food service market in 2022. However, growth in Mexico could be a drag on inflation. Among restaurants, quick service restaurants will register the largest share in 2023. Middle East and North Africa: Foodservice revenue in the Middle East and North Africa region is expected to grow by 2023. Among the markets in the region, the UAE food services market has the highest market share followed by Israel. Among restaurants, quick service restaurants will register the largest share in 2022. North America: The US foodservice industry holds the highest market share in the North America foodservice market in 2022. The pandemic has caused a significant decline in the industry due to shutdowns. restaurant, residential, leisure and retail channels. In the coming years, restaurants will become more digital, online menus and table reservation options will become an integral part of restaurants. For example, the adoption of delivery robots will increase speed. Restaurants will include more variety in their offerings. Thanks to the influence of social media, consumers will also be exposed to a greater variety of foods and cuisines. Western Europe: In 2022, Italy, France, Germany, Spain, and the United Kingdom accounted for the major market shares in the Western Europe foodservice market. Restaurants account for most of the cost of food service in Italy. Among the restaurants, coffee and tea shops dominate due to the popularity of coffee culture in the region. Italy is also known for its coffee culture. Leading global restaurant brands are focusing on expanding their presence in the country. Foodservice Market Analysis by Region, 2021 (%) Get the full foodservice market report for regional insights, download a free sample report Foodservice Market Segmentation by Channel The main channels in the foodservice market are residential, leisure, mobile operators, pubs, clubs and bars. , restaurants, retail, travel and workplace. In 2021, restaurants were the largest revenue-generating channel segment in the foodservice market. Foodservice Market Analysis by Channel, 2021 (%) For more information by channel, download a free sample report on the Key Segments covered in this Report. Food Service Market Channel Outlook (2021-2026, USD Billion) Accommodation Leisure Mobile Operators Pubs, Clubs & Bars Restaurants Retail Travel Workplace Food Service Market Regional Outlook (2021-2026, USD Billion) Africa Asia Australia Eastern Europe Latin America Middle East and North Africa North America Western Europe Scope Restaurants accounted for more than 65% of total foodservice sales, with Asia leading the global trend. Thailand and Turkey are predicted to grow significantly in the next few years. Full-service restaurants are the largest type of restaurant globally. Key Highlights Restaurants accounted for more than 65% of total foodservice sales, with Asia leading the global trend. Thailand and Turkey are predicted to grow significantly in the next few years. Full-service restaurants are the largest type of restaurant globally. Reasons to Buy Understand the challenges and opportunities the industry faces to address what affects it. Evaluate the foodservice channel more broadly by gaining insights from inside and outside your sector. Access valuable information to help make future decisions and inform new product development.
The food service market is expected to grow at a CAGR of more than 8% during the forecast period.
Business Intelligence Developer Ii Income Eastern West Prohibit
The Asian food industry is leading the global market and is expected to continue to do so during the forecast period.
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